Digital Wallet Users to Exceed 4.4 Billion by 2025, as Mobile Drives Digital Payments’ Revolution

A new study from Juniper Research has found that the number of unique digital wallet users will exceed 4.4 billion globally in 2025; rising from 2.6 billion in 2020.

It found that mobile wallets are leading this 70% growth, as mobile payments rapidly scale across geographical and vertical markets. The increasing alignment between in person and remote commerce channels is leading to greater use of mobile wallets than ever before, with online wallet use confined to high-value purchases or complex bill payments.

The research recommends that merchants should undertake complete reviews of their processes to ensure that they are offering a highly capable mobile app. This must be inclusive of a seamless checkout process, the correct mobile wallet integrations and high levels of security, or they will lose out to more mobile-adept merchants.